Marketing Concepts

The use of marketing concepts - is marketing a posh name for selling? This research report aims to depict if there is any truth to the statement "Marketing is just selling with a posh name..." it also aims to illustrate the marketing concept, which refers to the second half of the statement " .....What's all this about the marketing concept"

EXECUTIVE SUMMARY

This research report aims to depict if there is any truth to the statement "Marketing is just selling with a posh name..." it also aims to illustrate the marketing concept, which refers to the second half of the statement " .....What's all this about the marketing concept"

In order for an organisation to be successful with its marketing activities it is crucial to understand the difference between marketing and selling along with the philosophy of marketing. Once this understanding is clear the organisation can adapt the marketing concept.

Through the use of research resources available it is made evident that many businesses do not understand the complete marketing concept and either live a short marketing life or fail altogether. That even the basic functions of marketing are misunderstood.

A company who has implemented the marketing concept efficiently is Nokia, they are referred to in the report, stating that through the adaption of the marketing concept it has to be said that it is one of the key success factors to their business.

The report concludes that marketing isn't just a posh name for selling; in fact selling is part of the marketing component.

TABLE OF CONTENTS

Executive Summary 2

Introduction 4

Understanding Marketing 5

What is Marketing 5

Selling - a component of Marketing 5

What is Selling 5

How is Selling and Marketing Different 5

Marketing Philosophies 6

The Marketing Concept 6

Nokia and the use of the Marketing Concept 7

Conclusion 8

Recommendations 9

References/ bibliography 10

Appendices 10

INTRODUCTION

The aim of this report is to define Marketing, outlining the Marketing Concept along with illustrating the difference between Selling and the Marketing in which many people tend to confuse; having the impression that marketing is simply selling with a posh name.

The use of the Marketing Concept will be demonstrated through examples of an organisation that have benefited from the implementation process achieving the goals within their organisation.

Conclusions will be drawn and Recommendation made

UNDERSTANDING MARKETING

What is marketing?

"The activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large." (Elliott, Rundle-Thiele, Walker, p.3 2010)

Marketing refers to identifying the wants and needs of a target market, creating ways of satisfying those wants and needs greater than competitors through conducting activities such as market research, promotion, selling and distribution. It is the complete process which leads to making sales and creating growth for an organisation in which encounters marketing goals, objectives strategies and plans via a marketing mix of Place, Price, Product and Promotion.

SELLING - A COMPONMENT OF MARKETING

Selling and Marketing are often confused, regarded as the same when in fact selling is a small portion which interrelates to the entire marketing practice.

What is selling?

Selling is classified as an activity in which involves persuasion or influence, in order for a product or service to be purchased by a customer.

How is Selling and Marketing different?

As identified Marketing involves getting the product to market where as Selling involves closing the sale with a potential customer. Selling is the conversion of a potential customer into an actual customer.

The difference between the selling and marketing are identified below (please see Table 1.0)

Selling Marketing

Emphasis is on the Product Emphasis is on the customers' needs/wants

Organisation produces product first then works out how to sell it Organisation determines the customers' needs/wants first then they develop how produce and deliver a product tailored to the satisfaction of the customers' needs/wants

Sales volume oriented Profit Oriented

Planning is short term oriented in terms of today's products and markets Planning is long term oriented in terms of new products, tomorrows market and future growth

Stress is on needs to the seller Stress is on wants of buyers

Table 1.0 Selling vs. Marketing

MARKETING PHILOSOPHIES

Previously not all organisations understood that marketing revolves around knowing your customers, their needs and wants, providing products or services tailored to suit these needs and wants which creates satisfaction which in turn leads to long term customer relationships resulting in greater profitability for the organisation.

Prior to the marketing evolvement the thinking